Why are investors investing in Jio?
Jio Platforms, which now owns RJIL, was created as a new holding company in November, partly with the intention of seeking external investors — a necessity for RIL, which needs to pay off all that debt.
Which company invested in Jio?
Alphabet Inc’s Google paid Rs 33,737 crore to Reliance Industries’ Jio Platforms, as its biggest-ever investment in an Indian company. Google now holds 7.73 per cent share in RIL’s subsidiary Jio Platforms.
Does Reliance Jio make money?
Reliance Jio, the telecom arm of Reliance Industries Limited (RIL), recorded a 47.5 percent year-on-year profit in the fourth quarter of financial year 2021. The company posted a net profit of Rs 3,508 crore, as compared to Rs 2,379 crore in the same period last year.
How much is Ambani in debt?
Reliance Capital Ltd (RCL), part of Anil Ambani-promoted Reliance Group, has said the total outstanding debt rose to Rs 20,379.71 crore at the end of December 2020. The total debt, including interest, stood at Rs 19,805.7 crore on August 31, 2020.
Who invested in Jio in 2020?
Before Retail Retail, RIL had raised about Rs 1.52 lakh crore for Jio Platforms from global investors, including Facebook, Google, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, Public Investment Fund of Saudi Arabia, Intel Capital and Qualcomm Ventures, for a total …
How much did Mukesh Ambani invested for Jio?
Interestingly, Google’s $4.5 billion cheque and Facebook’s $5.7 billion investment were a cheaper deal than the rest.
Mukesh Ambani gave Google and Facebook a discount on Reliance Jio stake — here’s why.
|Investment in Jio||₹11,367 crore|
|Stake in Jio||2.32%|
|Equity value||₹4.91 lakh crore|
What is the salary of Jio CEO?
62% more than the average Founder & CEO Salary in Telecom / ISP Companies. Average Reliance Jio Founder & CEO salary in India is ₹ 73.3 Lakhs for employees with years of experience. Founder & CEO salary at Reliance Jio ranges between ₹ 50 Lakhs to ₹ 100 Lakhs.
Is Jio under loss?
The company lost 0.2 million active subscribers and its market share of active user base declined to 26.1%. As of February, Bharti has the highest number of active subscribers at 340 million, followed by Jio at 324 million and Vodafone Idea at 256 million.
How do Jio earn money?
Reliance Jio is providing a commission of 4.16% on all recharges to Jio partners for recharging other numbers. This means that you will be able to earn ₹4.16 for every ₹100 worth of recharge. The money is added when you load money into the app.
Which is better Jio or Airtel?
Now, unlimited voice calling and 100 SMS per day is offered by all the companies, so the main issue comes down to how much data you need. Since Airtel gives you 5GB of data more than Jio and Vodafone, and if you need at least 1GB of data per day, the Airtel plan is better for you.
Is Tata debt-free?
Tata Motors, announced at last year’s AGM, its aim to become a debt-free company within three years. … “The company declared a goal to become a zero-debt company by FY24.
What is meaning of net debt-free?
Simply put, net debt is borrowings minus cash. So, if a business has debt of ₹100 and cash of ₹40, its net debt would be ₹60 (100 minus 40). … So, when a business says it is net debt-free, that does not mean it has repaid all its borrowings. The debt is very much there until it is actually paid off.
How much debt is Jio?
Reliance Jio reported a total debt of nearly 232 billion Indian rupees in fiscal year 2020. This was significantly lower than the debt of teh company in the previous year. Reliance Jio, owned by Mukesh Ambani, was a wholly owned subsidiary of Reliance Industries.